By Josh Beckerman
Skyworks Solutions Inc. (SWKS), a maker of analog
semiconductors, will join the S&P 500 after the close of
trading Wednesday.
S&P Dow Jones Indices said Skyworks is replacing PetSmart
Inc. (PETM), which is being sold to private-equity BC Partners for
about $8.2 billion.
Skyworks shares were up 2% to $94.02 in after-hours trading.
Inclusion in the index is typically a boon for a stock as
index-tracking funds that follow the S&P 500 will need to buy
its shares at that time.
Skyworks said in January that it posted a sharply higher profit
as its revenue rose 59% to $805.5 million, exceeding the company's
guidance. At the time the company said, "We have created a unique
business model, combining the strong growth of connectivity and the
'Internet of Things' with the financial returns of a diversified
analog company."
Maximus Inc. (MMS), which provides such services as data
processing for government health and human services agencies, will
replace Skyworks in the S&P MidCap 400. In turn, Republic
Airways Holdings Inc. (RJET) will replace Maximus in the S&P
SmallCap 600.
Write to Josh Beckerman at josh.beckerman@wsj.com
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